Shaker Financial Services LLC Takes $326,000 Position in The Gabelli Global Utility & Income Trust (NYSE:GLU)

Shaker Financial Services LLC purchased a new position in The Gabelli Global Utility & Income Trust (NYSE:GLU) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 23,511 shares of the company’s stock, valued at approximately $326,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Comerica Bank grew its holdings in The Gabelli Global Utility & Income Trust by 63.6% during the 1st quarter. Comerica Bank now owns 2,199 shares of the company’s stock worth $32,000 after acquiring an additional 855 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of The Gabelli Global Utility & Income Trust in the 2nd quarter valued at about $37,000. Hartline Investment Corp bought a new position in shares of The Gabelli Global Utility & Income Trust during the first quarter worth about $182,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in The Gabelli Global Utility & Income Trust by 8.0% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 13,444 shares of the company’s stock worth $186,000 after purchasing an additional 994 shares in the last quarter. Finally, Private Advisor Group LLC increased its holdings in The Gabelli Global Utility & Income Trust by 2.7% in the first quarter. Private Advisor Group LLC now owns 40,044 shares of the company’s stock valued at $584,000 after buying an additional 1,045 shares during the last quarter.

The Gabelli Global Utility & Income Trust Stock Performance

Shares of NYSE GLU opened at $15.30 on Friday. The stock’s 50 day moving average price is $14.77 and its two-hundred day moving average price is $14.26. The Gabelli Global Utility & Income Trust has a 52-week low of $11.61 and a 52-week high of $15.69.

The Gabelli Global Utility & Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 13th will be given a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 7.84%. The ex-dividend date is Friday, December 13th.

The Gabelli Global Utility & Income Trust Company Profile

The Gabelli Global Utility & Income Trust is a closed-ended equity mutual fund launched by GAMCO Investors, Inc It is managed by Gabelli Funds, LLC. The fund invests in public equity markets across the globe. It primarily invests in stocks of companies involved to a substantial extent in providing products, services, or equipment for the generation or distribution of electricity, gas, or water and infrastructure operations, and in equity securities including preferred securities of companies in other industries, in each case in such securities that are expected to pay periodic dividends.